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BofA Leaves Comcast CEO's Investor Presentation Feeling Bullish

Comcast Corporation (NASDAQ: CMCSA) CEO Brian Roberts Tuesday made several positive comments while presenting at an investor conference, according to BofA Securities.

· 09/16/2020 12:34

Comcast Corporation (NASDAQ:CMCSA) CEO Brian Roberts Tuesday made several positive comments while presenting at an investor conference, according to BofA Securities.

The Comcast Analyst: Jessica Reif Ehrlich maintained a Buy rating on Comcast with an unchanged $53 price target.

The Comcast Takeaways: Comcast's share gains in high-speed data may continue for several years, Reif Ehrlich said in a Wednesday note.

The analyst named 10 positive data points presented by the Comcast CEO:

  • Third-quarter broadband net adds will exceed 500,000, which would represent the best quarter ever. 
  • 2020 broadband net adds are set to greatly exceed 2019 net adds of 1.4 million.
  • Trends are improving in both revenue and sub growth for Comcast's business services. 
  • Cable EBITDA growth in the third quarter will be “substantially better” than in the first and second quarters.
  • The company continues to realize expense efficiencies. 
  • Comcast is showing strong margin expansion.
  • Peacock sign-ups have jumped to 15 million, and it is the second most-watched app on Flex.
  • Comcast will use its wireless network to supplement its MVNO in high-traffic areas. 
  • A significant restructuring at NBCU will drive reduced costs.
  • TV and film production has returned, and the NBC fall season launches in November. 

CMCSA Price Action: Shares of Comcast were trading 1.13% higher at $46.98 at last check Wednesday.